SNP Health Split Corp. Partial Call for Redemption



    TORONTO, Jan. 28 /CNW/ - SNP Health Split Corp. (the "Company") announced
today that it has called 220,849 Preferred Shares for cash redemption on
February 11, 2008 (in accordance with the Company's Articles) representing
approximately 19.162% of the outstanding Preferred Shares as a result of the
special annual retraction of 571,698 Capital Shares by the holders thereof.
The Preferred Shares shall be redeemed on a pro rata basis, so that each
holder of Preferred Shares of record on February 8, 2008 will have
approximately 19.162% of their Preferred Shares redeemed. The redemption price
for the Preferred Shares will be US$25.00 per share.
    Holders of Preferred Shares that are on record for dividends but have
been called for redemption will be entitled to receive dividends thereon which
have been declared but remain unpaid up to but not including February 11,
2008.
    Payment of the amount due to holders of Preferred Shares will be made by
the Company on February 11, 2008. From and after February 11, 2008 the holders
of Preferred Shares that have been called for redemption will not be entitled
to dividends or to exercise any right in respect of such shares except to
receive the amount due on redemption.

    SNP Health Split Corp. is a mutual fund corporation created to hold a
portfolio of common shares (the "Portfolio Shares") of the companies that make
up the S&P Health Care Sector Index of the S&P 500 Index. The Company will
generate quarterly fixed cumulative preferential distributions for the
Preferred Shareholders and provide the Capital Shareholders with a leveraged
investment, the value of which is linked to changes in the market price of the
Portfolio Shares.
    Capital Shares and Preferred Shares of SNP Health Split Corp. are listed
for trading on The Toronto Stock Exchange under the symbols SNH.U and SNH.PR.U
respectively.

    %SEDAR: 00017195E




For further information:

For further information: Investor Relations, SNP Health Split Corp.,
(416) 945-5255, E-mail: mc_snphealth@scotiacapital.com, Web site:
www.scotiamanagedcompanies.com

Organization Profile

SNP HEALTH SPLIT CORP.

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